Credit Suisse Group has completed the sale of 100% of Winterthur Swiss Insurance Company to AXA, finalizing the agreement first announced on 14 June this year. Under the agreement, Credit Suisse Group received a cash payment of CHF 12.3 billion. In addition, AXA redeemed GBP 500 million (approximately CHF 1.1 billion) of inter-company hybrid debt outstanding between Credit Suisse Group and Winterthur.
Credit Suisse Completes Sale Of Winterthur To AXA
Credit Suisse Group has completed the sale of 100% of Winterthur Swiss Insurance Company to AXA, finalizing the agreement first announced on 14 June this year. Under the agreement, Credit Suisse Group received a cash payment of CHF 12.3 billion.
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